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GS Home Shopping profit holds relatively steady YOY in Q4

GS Home Shopping Inc. said its normalized net income for the fourth quarter was 4,238.81 South Korean won per share, compared with 4,226.76 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.40 billion won, compared with 26.40 billion won in the prior-year period.

The normalized profit margin declined to 8.4% from 8.6% in the year-earlier period.

Total revenue grew year over year to 315.35 billion won from 308.75 billion won, and total operating expenses grew year over year to 275.98 billion won from 270.92 billion won.

Reported net income decreased 36.8% from the prior-year period to 21.39 billion won, or 3,434.32 won per share, from 33.83 billion won, or 5,414.82 won per share.

For the year, the company's normalized net income totaled 12,130.35 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15,064.14 won.

EPS declined 21.5% from 15,461.24 won in the prior year.

Normalized net income was 75.65 billion won, a fall of 21.8% from 96.74 billion won in the prior year.

Full-year total revenue rose on an annual basis to 1.122 trillion won from 1.086 trillion won, and total operating expenses rose 7.2% on an annual basis to 1.017 trillion won from 948.22 billion won.

The company said reported net income declined 31.2% year over year to 78.67 billion won, or 12,614.13 won per share, in the full year, from 114.36 billion won, or 18,278.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.